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Global advisory, broking, and solutions company WTW has revealed the introduction of IMI Plus, an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth managers, hedge funds, private equity firms and real estate strategies.
As per WTW, IMI Plus ensures “thorough and unified” risk management without the administrative burden of multiple policies, which in turn reduces the risk of unintended protection gaps.
“Unlike traditional insurance options which segment coverage into separate policies, IMI Plus combines them with critical protections under one streamlined policy, which now includes comprehensive cyber coverage as well as other unique benefits under a single IMI policy,” the firm explained.
Other key features include operational efficiency, tailored solutions, and expert claims advocacy support.
WTW added that by leveraging expertise in operational due diligence, IMI Plus rewards strong operational risk management by offering a premium discount to investment managers upon successful completion of its investment division’s independent operational due diligence assessment.
Henry Keville, Head of FINEX GB Financial Institutions, commented, “Modern investment managers face increasingly complicated risk management, often juggling multiple insurance agreements and renewal dates for critical coverages.
“Our mission is to simplify their processes and offer a comprehensive insurance solution that enhances coverage coherence and eases operational complexities.
“All this whilst rewarding good operational risk management using our Investment Division’s operational due diligence expertise. One WTW working smarter to close the insurance gap for our clients by bringing our knowledge of risk and capital together.”
Susan Finbow, Global Head of FINEX Financial Institutions at WTW, said, “WTW’s IMI Plus is a one-and-done coverage solution that takes a truly holistic view to the various financial lines risks faced by investment managers.
“Simplifying and streamlining the purchase of a single comprehensive policy allows investment managers to devote less of their time procuring multiple insurance contracts and more of their time growing their business.”
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